Asahi FY21 Earnings, Revenue Rise

Asahi Group Holdings, Ltd.(ASBRF.PK), a Japanese beer, spirits, soft drinks, and food business group, on Tuesday posted a rise in profit for the last fiscal, with a rise in revenue, supported by overseas sales.

For the 12-month period to December 31, 2021, the Tokyo-headquartered company, reported a profit of 153.82 billion yen or 302.89 yen per share, compared with 92.58 billion yen or 196.49 yen per share, recorded for the fiscal 2020.

Asahi registered a pre-tax income of 199.82 billion yen for 2021, higher than 125.39 billion yen, recorded during 2020.

Operating profit of the food and drink company rose to 211.90 billion yen as against 135.16 billion yen.

EBITDA also climbed for the period to 328.5 billion yen, from 269.4 billion yen.

For the fiscal 2021, the company generated revenue for the year at 2.23 trillion yen, higher than 2.02 trillion yen last year.

The Japanese firm’s revenue from overseas business moved up to 795.1 billion yen for the year, compared with 625.6 billion yen of 2020.

Looking ahead, for the fiscal 2022, the company expects to report a profit of 146.5 billion yen, whereas profit-before tax at 205.5 billion yen. It also projects to record EBITDA of 352.5 billion yen.

In addition, for the current fiscal, the Group expects to report 2.45 trillion yen in revenues.

Bridgestone Turns To Profit In FY21; Sees Weak Net Profit, Higher Revenues In FY22; Stock Up

Bridgestone Corp. (BRDCF.PK,BRDCY.PK), a Japanese tire and rubber company, reported Tuesday that its fiscal 2021 profit attributable to owners of parent was 394.04 billion yen, compared to prior year’s loss of 23.30 billion yen.

Earnings per share were 558.1 yen, compared to loss of 33.09 yen last year.

Profit from continued operations was 307.87 billion yen, compared to loss of 19.79 billion yen a year ago.

Operating profit surged 503 percent from last year to 376.80 billion yen. Adjusted operating profit was 394.34 billion yen, up 90.1 percent.

Revenue grew 20.4 percent to 3.25 trillion yen from 2.70 trillion yen a year ago.

Looking ahead for fiscal 2022, the company projects attributable net income of 280 billion yen or 397.58 yen per share, down 28.9 percent from last year; adjusted operating profit of 425 billion yen, up 7.8 percent year-over-year; and revenues of 3.65 trillion yen, up 12.4 percent from last year.

For the year, profit from continuing operations are expected to be 290 billion yen or 411.78 yen per share.

In Japan, Bridgestone shares were trading at 4,901 yen, up 2.34 percent.

Stephen Colbert Sets the Mood for Valentine’s Day With His Viewers

“Hey, don’t mind me, I’ll just be over here doing my thang — a long monologue,” Colbert joked.

By Trish Bendix

DSM FY21 Adj. Profit Rises; Group Sales Up 14%

DSM (RDSMY.PK) reported that its fiscal 2021 adjusted profit from continuing operations increased to 858 million euros from 711 million euros, previous year. Adjusted net earnings per share from continuing operations was 4.92 euros compared to 4.12 euros. Adjusted EBITDA increased 18% to 1.81 billion euros from 1.53 billion euros.

Net profit from continuing operations to equity holders increased to 1.09 billion euros from 457 million euros, previous year. Net earnings per share from continuing operations was 6.26 euros compared to 2.64 euros.

Fiscal year 2021 sales from continuing operations were up 14% to 9.20 billion euros.

The Group expects a mid-single digit adjusted EBITDA increase for fiscal 2022.

Engie Posts FY Profit

French natural gas and electricity supplier Engie SA (ENGQF.PK,ENGIY.PK) reported that its net income group for fiscal year 2021 was 3.66 billion euros compared to a loss of 1.54 billion euros in the previous year, reflecting higher net recurring income group share and lower impairment loses.

Net recurring income, group share relating to continuing operations, rose to 2.9 billion euros from last year’s 1.7 billion euros, driven by the strong increase in EBIT and recurring effective tax rate decrease from 30.5% to 29.3%.

Net recurring income Group share including EQUANS contribution amounted to 3.2 billion euros compared to 1.7 billion euros at 31 December 2020.

Annual revenue at 57.9 billion euros was up 30.6% on a gross basis and 33.1% on an organic basis.

The company said its board has reaffirmed the Group’s dividend policy with a payout ratio of 65-75% of net recurring income Group share, and a floor of 0.65 euros per share for the 2021 to 2023 period.

For 2021, the Board has proposed a payout ratio of 66%. It translates to a dividend of 0.85 euros per share, which will be proposed for shareholder approval at the Annual General Meeting on the 21 April 2022.

The company expects net recurring income, group share to be in the range of 3.1 billion euros – 3.3 billion euros for 2022, net recurring income, group share of 3.2 billion euros – 3.4 billion euros for fiscal year 2023, and net recurring income, group share of 3.3 billion euros – 3.5 billion euros for fiscal year 2024.

Opinion | Why We Are Not Facing the Prospect of a Second Civil War

By Jamelle Bouie

Opinion Columnist

India's Jan trade deficit at $17.42 billion – trade ministry

NEW DELHI (Reuters) – India’s merchandise trade deficit in January touched $17.42 billion, revised data released by the government showed on Tuesday.

India’s merchandise exports rose $34.50 billion from $27.54 billion a year earlier, while imports rose $51.93 billion in January from $42.03 billion last year.